Indemnifications and insurance: when selling public company, board wants protection from lawsuits that may come in relation to the deal and other lawsuits (D&O insurance with high limits); buyer indemnifies you and agrees to maintain D&O insurance at same limits for 3-5 years

Employee benefit matters: single and double trigger option policies; need to examine which triggered by M&A transaction (part of due diligence)

Negotiable: compensation of management, termination fees, mechanics of termination provisions, what will happen to management in general (not issue in Berkshire transactions)